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Exela Technologies (XELA) investor relations material
Exela Technologies Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q3 2024 revenue reached $269.2M, up 6.3% year-over-year, led by ITPS growth while Healthcare and LLPS declined.
Net loss for Q3 2024 was $24.9M, a $2M sequential improvement but up from $23.1M in Q3 2023.
Adjusted EBITDA was $14.6M, down 24.2% year-over-year but up 6.7% sequentially.
Nasdaq delisted shares in November 2024; now trading on OTC Pink.
Substantial doubt exists about the company's ability to continue as a going concern due to ongoing losses and debt maturities.
Financial highlights
Gross margin was 20.2% in Q3 2024, down 1.4% year-over-year and 3.3% sequentially.
SG&A expenses were $35.1M, down 0.8% year-over-year and 16% sequentially.
Interest expense for Q3 2024 was $23.4M.
Cash, restricted cash, and equivalents at September 30, 2024: $45.6M; working capital deficit: $262.8M.
Adjusted EBITDA for Q3 2024: $14.6M; for nine months: $41.2M.
Outlook and guidance
Management is focused on cost savings, new financing, and potential asset sales to address liquidity and debt obligations.
Plans to spend 1.2% of total revenue on capital expenditures over the next twelve months.
Focus remains on revenue growth, margin improvement, and strategic initiatives.
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